Orascom Development Releases Second Annual ‘Life With Purpose’ ESG 2024 Report
Orascom Development Holding, a leading international developer of vibrant, integrated communities in Europe, the Middle East, and North Africa, releases its second Environmental, Social, and Governance (ESG) 2024 Report under its ESG platform: Life with Purpose. The ESG 2024 Report marks a progressive milestone in the Group’s ongoing journey to build thriving, integrated, and sustainable communities, where people are empowered, and the environment is respected for future generations.
Orascom Development’s promise to customers is to help them live “Life As It Should Be.” Today, this principle goes beyond simply enjoying a good life; it is also rooted in living life for good and with purpose. In 2024, this evolution led to the launch of “Life With Purpose”, its ESG platform focused on ensuring that its destinations are not only beautiful and well-planned but also contribute to a more sustainable and inclusive future. Building on the foundation laid in last year’s inaugural edition, the ESG 2024 Report aligns the scope of ESG disclosures with the Global Reporting Initiative (GRI) and the United Nations Sustainable Development Goals (SDGs), as well as the United Nations Global Compact (UNGC) and Swiss Code of Obligations. The Group also reaffirmed its materiality matrix, helping prioritize issues most relevant to stakeholders and business impact.
Omar El Hamamsy, Orascom Development Group CEO, stated, “Championing communities while fostering environments where residents thrive, and local economies prosper are core to how we develop our towns and engage with our stakeholders. Our ESG 2024 Report reflects our ongoing commitment to environmental responsibility, social inclusion, and transparent governance. Throughout 2024, we were guided by our principles in interacting with our colleagues, suppliers, and partners – strengthening our reputation as a trusted industry leader in placemaking. This year’s ESG report marks another step in our journey as we deepen our efforts to advance Orascom Development as a sustainable, multi-national developer of prime destinations.”
Highlighting environmental impact, the Group recognizes the importance of protecting the planet’s natural resources, reducing carbon emissions and developing sustainable, future-ready communities through various initiatives that harness the diverse local capacities across its destinations. In Montenegro, for instance, Orascom Development achieved more than 85% waste separation rate for The Chedi Luštica Bay through waste management efforts such as repurposing food waste for animal feed and composting, collecting glass and paper waste, and using oil for biofuel production. In Oman, Orascom Development planted over 100,000 trees in nurseries, supporting the country’s National Initiative, beautifying landscapes and reducing carbon emissions. The Group is also invested in optimizing energy management systems to transition to renewable energy sources such as solar, wind, and green electricity tariffs. In West Carclaze Garden Village, UK, the developer’s homes are considered top performers in England and Wales, ranking in the top 0.3% of nearly 27 million homes, with its highest-performing homes among the top few hundred in the country in 2024.
Orascom Development’s social responsibility efforts prioritize empowering talent and creating shared value for all stakeholders, with the aim of promoting positive socio-economic outcomes. In 2024, the Group strengthened its vocational partnerships with local entities to support the development of future talent and improve employability among key groups. In Dhofar, home to the developer’s Hawana Salalah destination, a partnership with INJAZ Oman enabled over 1,500 students to gain essential skills in financial literacy, entrepreneurship, and career readiness. Meanwhile, in El Gouna, initiatives have focused on upgrading staff facilities, improving social insurance grades for all employees, and expanding medical coverage. By prioritizing wellbeing, Orascom Development ensures creating a workplace where employees feel valued, supported, and empowered to succeed.
Orascom Development is also committed to ethical business practices, transparency, and accountability. The Group’s long-term approach to development is guided by its responsibility to create sustainable, vibrant communities that play a role in enriching lives, strengthening economies and protecting the environment for future generations. By integrating ESG into its growth strategy, they are shaping a sustainable future where communities thrive, businesses prosper, and the environment is respected.
For more information and to access the full ESG 2024 Report, please visit the Sustainability page at OrascomDevelopment.com.
